TIDMSAT
RNS Number : 1915G
Satellite Solutions Wldwide Grp PLC
03 August 2016
THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED HEREIN, IS
RESTRICTED AND NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES OF AMERICA, CANADA, THE REPUBLIC OF SOUTH AFRICA,
AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Satellite Solutions Worldwide Group plc
("SSW" or the "Company")
Completion of Acquisitions and TVR
Satellite Solutions Worldwide Group plc (AIM: SAT), the global
communications company specialising in the provision of rural and
last-mile broadband via satellite, announces that further to the
announcements dated 29 July 2016, admission of the Placing Shares
and the Vendor Shares will occur at 8 a.m. tomorrow ("Admission").
Completion of the Acquisitions will become effective immediately
after Admission.
Capitalised terms are as defined in the Company's announcements
on 29 July 2016, unless the context requires otherwise.
Details of the Vendor Shares
A total of 26,362,771 Vendor Shares have been issued to part
satisfy the consideration for the Acquisitions. The number of
Vendor Shares issued was based on a GBP: NOK exchange rate of
11.2575 and GBP: A$ rate of 1.7591, being the prevailing rates at
midday today. For further information on the Vendor Shares and
lock-in arrangements, please refer to the Company's announcements
on 29 July 2016.
Total Voting Rights and Director Shareholdings
Following Admission, the total number of Ordinary Shares in
issue will be 536,175,719. SSW does not hold any Ordinary Shares in
treasury. The Placing Shares and the Vendor Shares rank pari passu
in all respects with the existing Ordinary Shares. The
aforementioned figure of 536,175,719 Ordinary Shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in, SSW under the
Financial Conduct Authority's Disclosure and Transparency
Rules.
All of the Company's directors participated in the Placing,
subscribing for a combined total of 2,083,335 Placing Shares, which
equated to a total director cash subscription of GBP125,000. The
director subscription took place on the same terms as the wider
Placing. Details of the director subscription and their
shareholdings post Admission are in the table below.
% of the
enlarged Number
No. of Resulting issued of share
Placing holding voting options
Current Shares following share held
Director shareholding acquired Admission capital
Andrew
Walwyn 48,645,345 416,666 49,061,991 9.2 3,500,000
Rodger
Sargent 8,748,421 416,666 9,165,087 1.7 1,000,000
Frank Waters 3,416,104 416,666 3,832,770 0.7 6,346,753
Paul Howard 1,550,000 416,666 1,966,666 0.4 1,000,000
Michael
Tobin 580,000 416,666 996,666 0.2 2,000,000
This announcement contains inside information.
Enquiries:
Satellite Solutions Worldwide www.satellitesolutionsworldwide.com
Group plc
Andrew Walwyn, Chief Via Walbrook PR
Executive Officer
Strand Hanson (Financial Tel: +44 (0)20 7409
& Nominated Adviser) 3494
Andrew Emmott / Ritchie
Balmer
Arden Partners plc (Broker) Tel: +44 (0)20 7614
5900
Catherine Miles / James
Felix / Ciaran Walsh
Walbrook PR (PR advisers) Tel: +44 (0)20 7933
8790
Paul Cornelius / Nick
Rome
Oakley Capital (Financial Tel: +44(0)20 766 6900
Adviser)
Chris Godsmark / Victoria
Boxall
About SSW
Established in 2008, SSW offers a broad range of satellite
broadband services with customers across 31 countries. With
solutions targeting B2C and B2B users, and with products developed
specifically for the broadcasting/SNG, Police and Military markets,
SSW's brands represent leading independent providers of satellite
broadband internet services.
Listing on the London Stock Exchange as Satellite Solutions
Worldwide Group plc (AIM:SAT) on 12 May 2015, and with a track
record of strong organic growth in its subscriber base and
recurring revenues, the directors of SSW believe there is a major
opportunity to build-on the business's organic growth with
acquisitions throughout the fragmented European satellite
industry.
Working closely with satellite owners and operators, SSW targets
customers in the 'digital divide' with solutions that deliver up to
30 Mb satellite based broadband services to almost any premises,
whether residential, commercial or industrial, irrespective of
location or local infrastructure.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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